May 23, 2017 / 10:12 AM / 2 months ago

BRIEF-Topdanmark Q1 post-tax profit DKK 415 million, above expectations

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May 23 (Reuters) - TOPDANMARK A/S

* Q1 POST-TAX PROFIT DKK 415 MILLION (REUTERS POLL DKK 319 MILLION)

* Says Will Switch to Distribution of Dividends

* Q1 COMBINED RATIO 85.8 PERCENT (REUTERS POLL 87.9 PERCENT)

* SEES ASSUMED GROWTH IN PREMIUMS ADJUSTED FROM AROUND 0 TO SLIGHTLY POSITIVE IN 2017

* SAYS BASIS FOR DIVIDEND SCHEME IS A PAY-OUT RATIO OF AT LEAST 70%

* BASIS FOR DIVIDEND SCHEME: A PAY-OUT RATIO OF AT LEAST 70%

* POST-TAX PROFIT FORECAST MODEL FOR 2017 IS UPGRADED FROM DKK 900-1,000M TO DKK 1,100-1,200M

* ASSUMED COMBINED RATIO FOR 2017 IMPROVED FROM 91-92 TO AROUND 89, EXCLUDING. RUN-OFF PROFITS IN Q2-Q4 2017 STILL INCL. ADDITIONAL EXPENSES OF 0.5-1PP Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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